As a seasoned researcher with extensive experience in the digital asset industry, I find Brad Garlinghouse’s suggestions for President Trump’s 100-day agenda to be both insightful and strategic. His focus on regulatory clarity, particularly the potential replacement of Gary Gensler, reflects a deep understanding of the current landscape and its impact on crypto growth.
In simple terms, Brad Garlinghouse, the chief executive officer of Ripple, has suggested a list of actions regarding cryptocurrency that he thinks President Donald Trump should consider in his initial 100 days in office.
2024 U.S. election victory by Trump brings a president favorable to cryptocurrency, but also an unprecedented number of pro-crypto legislators in the House and Senate. As Bitcoin (BTC) prices surge, there’s widespread optimism that this is just the start of good news for the crypto industry.
Nevertheless, one of the major focuses within the sector is advocating for regulatory transparency. In a congratulatory note to Trump, Ripple CEO Brad Garlinghouse highlighted several actions he believes the president could take in his initial 100 days to stimulate progress.
Fire Gensler
At the very beginning, one of Trump’s election promises is prioritized: dismissing Gary Gensler, the Chair of the U.S. Securities and Exchange Commission, on his first day in office. Garlinghouse proposes swapping out Gensler with a candidate more favorable towards cryptocurrency. Dan Gallagher (current legal officer at Robinhood), Christopher Giancarlo (former leader of the Commodity Futures Trading Commission), and Brian Brooks (ex-acting comptroller of the currency) are mentioned as possible replacements for Gensler.
The Ripple CEO expressed that such changes would significantly enhance the restoration of legal authority and public image at the SEC, as stated on platform X.
After Tuesday’s election win, Trump pledged to bring the country together and foster transformation.
In Garlinghouse’s plans for his initial 100 days, he hopes to encourage the president to bring both Republicans and Democrats together to advance the digital asset market structure bill within the Senate.
Notably, the U.S. House of Representatives passed the bill in May 2024.
The last point on Garlinghouse’s list concerns Ethereum (ETH). Ripple’s legal dispute with the SEC, which ran from December 2020 to July 2023, focused on denying claims that XRP (XRP) was a security. This court battle ended in a decision favorable to Ripple. Although the SEC approved Ethereum spot exchange-traded funds in May, Garlinghouse couldn’t help but make a sharp remark directed at the regulator.
He asked if it could be made clear, much like with XRP and Bitcoin, whether Ethereum is considered a non-security, correct?
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2024-11-06 20:46